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Savings with SELCO vs Banks

Credit unions are co-ops, owned by their members.

That means our profits are returned to all our member-owners in the form of lower fees and interest rates. In 2016, SELCO members saved an estimated $442 — and an estimated total of $26 million — by choosing us over a traditional bank.

Still not convinced? Here's how SELCO's simple, straightforward rates and fees compare to those of major banks operating in Oregon.

SELCO
CheckingSavingsCredit Card
No monthly fee, no min. balance$7 monthly fee only if no other account/service AND less than $100 min. daily balance8.25–18% APR; no balance transfer fee
Bank of America
$12 monthly fee, or $0 with $1,500 min. daily balance or $250 min. direct deposit$5 monthly fee, or $0 with $300 min. daily balance or $25 automatic transfer from checking. Limit of 6 withdrawals or transfers per month.12.99–22.99% APR; greater of $10 or 3% balance transfer fee.
Chase
$12 monthly fee, or $0 with $1,500 min. daily balance or $400 min. direct deposit$5 monthly fee, or $0 with $300 min. daily balance or $25 automatic transfer from checking.15.99–24.74% APR; greater of $5 or 5% balance transfer fee
First Interstate Bank
$9 monthly fee, or $0 with $500 min. daily balance$4 monthly fee, or $0 with $200 min. daily balance. Limit of 6 withdrawals or transfers per month.8.25-18.25% APR; greater of $10 or 3% balance transfer fee.
KeyBank
$7 monthly fee, or $0 with $500 min. deposit or 8 transactions monthly$4 monthly fee, or $0 with $300 min. daily balance. Limit of 4 withdrawals or transfers per month.10.99-20.99% APR; greater of $10 or 4% balance transfer fee
Umpqua Bank
$3 monthly fee, or $0 with e-statements$3 monthly fee, or $0 with $200 min. daily balance or monthly transfer from checking. Limit of 6 withdrawals or transfers per month.10.99-21.99% APR; greater of $5 or 3% balance transfer fee
US Bank
$8.95 monthly fee, or $6.95 with e-statements, or $0 with $1,000 min. direct deposit or $1,500 average balance$4 monthly fee, or $0 with $300 min. daily balance or $1,000 average balance. Limit of 6 withdrawals or transfers per month.10.99-22.99% APR; greater of $5 or 3% balance transfer fee
Wells Fargo
$10 monthly fee, or $0 with $500 min. direct deposit or $1,500 average daily balance or 10 debit card purchases$5 per month, or $0 with $300 min. daily balance or min. $25 automatic deposit. Limit of 6 withdrawals or transfers per month.16.15%-25.99% APR; greater of $5 or 3% balance transfer fee

Products used in this comparison:

  • SELCO's Select Checking, Personal Savings, Platinum Visa
  • Bank of America's Core Checking, Regular Savings, BankAmericard Mastercard
  • Chase's Total Checking, Standard Savings, Slate Visa
  • First Interstate's Regular Checking, Regular Savings, Platinum Mastercard
  • KeyBank's Key Express Checking, Key Saver, Latitude Mastercard
  • Umpqua Bank's Embark Checking, Grow Savings, Platinum Visa
  • US Bank's Easy Checking, Standard Savings, Platinum Visa
  • Wells Fargo's Everyday Checking, Way2Save Savings, Platinum Visa

Data current as of August 31, 2017.

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